Family Control and Sustainable Competitive Advantage
研究认为家族控制是企业获得持久竞争优势的独特来源，通过对S&P 1500制造企业的长期分析，发现家族企业比非家族企业更可能维持优异绩效，且企业越老、家族成员参与越多、家族持股越高，优势持续越久。
Shifting the attention from temporary to enduring competitive advantage, we theorize that family control of a business is a source of family-specific isolating mechanisms. These isolating mechanisms are based on path-dependent, socially complex, and inseparable resources that jointly enhance family firms’ ability to sustain competitive advantages vis-à-vis nonfamily firms. Longitudinal analyses of S&P 1500 manufacturing firms show that family firms are more likely to sustain superior performance than nonfamily firms. We also find that competitive advantages last longer in family firms that are older, have more family members involved, and a higher level of family ownership.